‘It’s time to stand on our own two feet’: Jim Molan on Australia’s dwindling oil security

17/08/2018

Luke Grant

Australia’s depleted fuel stock reserves currently sit at just 21 days’ supply, ramping up calls for the country to reclaim some self-sufficiency when it comes to self-defence.

Australia has fallen short of the International Energy Agency’s recommendation to have at least 90 days in reserve for the past six years. This makes us one of the only countries failing to comply with the compulsory benchmark.

The Federal Government is now scrambling for a solution. A treaty with the Netherlands is being considered, so Australia can draw from other oil stocks in an emergency.

But Senator Jim Molan says it’s about time Australia stops free-riding our allies for protection and regains some independence and autonomy, especially at a time when Trump’s nationalistic America is becoming increasingly isolationist.

“21 days maximum, that’s what we’ve got,” he says.

“It’s 21 days for fuel and I think it’s about 18 or 19 for diesel and a little less for aviation fuel. That’s fabulously effective, unless you have a security situation which cuts your fuel off from overseas.”

Given the vulnerability that comes with this type of dependence, Molan says we need to be self-reliant now.

“Now days, the capability of the US has changed markedly. Particularly, other powers throughout the world have changed remarkably.”

“So we’ve got to be able to live on our own, exercise our own sovereignty.”